They did not send my paperwork to sign Deed in lieu of, they sold the loan and the new company asked me to sign Deed in lieu of in which i had no problems doing so.Now since BOA started the foreclosure process and it is now on my county website i was told that since it was an FHA loan i had to wait at least 3 to 4 yrs to get a loan.

Some remain in denial even thru the end of the process.

In general Florida is a landlord friendly state.This may be of some help: How long does the eviction process take in Florida?

At this point my Personal credit is free and now I can move on to the 2nd rental property and repeat the process.

I did the mgmt, application processing and inspection - - others did the DIY stuff or I  hired professionals when required.I ALWAYS was the point of contact and then delegated if/as needed. 

My husband and I are thinking this is how we will start the process...

So, I think Bigger Pockets will be a great support in that process.

It should make the process a bit smoother since they are using they're own underwriting guidelines which can be changed to fit any situation versus the pretty strict guidelines set by the three agencies I mentioned.Hope this was helpful and good luck!!

Looking to understand the qualifications and how long the process takes.

I am new and in the process of purchasing my first Property and was planning on using a FHA Loan.